WK Kellogg Co (NYSE:KLG) Given Average Recommendation of “Strong Sell” by Brokerages

Shares of WK Kellogg Co (NYSE:KLG) have been given a consensus recommendation of “Strong Sell” by the seven brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $16.86.

Separately, Morgan Stanley initiated coverage on shares of WK Kellogg in a research report on Monday, March 24th. They issued an “underweight” rating and a $18.00 price target for the company.

WK Kellogg Stock Performance

Shares of KLG stock opened at $15.67 on Monday. The firm has a market cap of $1.35 billion, a PE ratio of 19.35, a P/E/G ratio of 2.01 and a beta of 0.35. WK Kellogg has a 12 month low of $14.80 and a 12 month high of $22.21. The company’s fifty day simple moving average is $17.93 and its 200-day simple moving average is $18.41. The company has a quick ratio of 0.32, a current ratio of 0.74 and a debt-to-equity ratio of 1.45.

WK Kellogg (NYSE:KLG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.21). The company had revenue of $667.00 million for the quarter, compared to analyst estimates of $677.91 million. WK Kellogg had a return on equity of 39.81% and a net margin of 2.66%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. Equities research analysts expect that WK Kellogg will post 1.57 EPS for the current fiscal year.

WK Kellogg Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 4.21%. The ex-dividend date is Friday, May 30th. WK Kellogg’s dividend payout ratio (DPR) is presently 103.13%.

Hedge Funds Weigh In On WK Kellogg

Large investors have recently bought and sold shares of the stock. Halbert Hargrove Global Advisors LLC bought a new position in WK Kellogg during the 4th quarter valued at $25,000. Ancora Advisors LLC raised its stake in shares of WK Kellogg by 181.8% during the 4th quarter. Ancora Advisors LLC now owns 1,519 shares of the company’s stock worth $27,000 after purchasing an additional 980 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of WK Kellogg during the 4th quarter worth $36,000. Wealthfront Advisers LLC bought a new stake in shares of WK Kellogg during the 4th quarter worth $44,000. Finally, Spire Wealth Management bought a new stake in shares of WK Kellogg during the 4th quarter worth $56,000. 95.74% of the stock is currently owned by institutional investors.

About WK Kellogg

WK Kellogg Co operates as a food company in the United States, Canada, and the Caribbean. It manufactures, markets, and distributes ready-to-eat cereal products primarily under the Frosted Flakes, Special K, Froot Loops, Raisin Bran, Frosted Mini-Wheats, and Kashi brands. The company was formerly known as North America Cereal Co and changed its name to WK Kellogg Co in March 2023.